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Property insurance assessments sitting unclaimed

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Posted: Aug 28, 2010 12:55 PM
Source: Associated Press

  Rating: 3.0 (1 vote)

Topics: property, insurance, assessment, unclaimed

More than $275 million in special assessments for Louisiana property insurance policyholders have not been reclaimed.

And if they don't act before the year is over, more than half that total will disappear.

The assessments were imposed on private polices over the past four years to help keep Louisiana Citizens Property Insurance Corp. solvent. Citizens is the state's property insurer of last resort.

Insurance Commissioner Jim Donelon tells The Times-Picayune that his office has sent out more than 4,500 packets and held a media campaign telling policyholders how to get back some of their money. But he says the unclaimed total has remained around 58 percent for months.

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